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Over Half Of Young American Adults Live With Their Parents In These 12 States
The plight of America's young adults when dealing with exponentially rising curves has been extensively documented on these pages, with the "curve" in question - if one can call that the fastest growing debt bubble in history - being student loans issued by the Federal government.
And since the curve keeps rising, and since the US housing recovery's dead cat bounces are just getting silly, the Fed decided to finally put two and two together, and admit that the reason why US household formation, despite even more rigged, seasonally-adjusted data, has ground to a halt and why young Americans simply refuse to get out of their parents' basement, is due to student debt.
Of course, anyone with an ounce of common sense would have said (and did) years ago that young people burdened by massive amounts of unrepayable debt (where their Ivy League degree is a tremendous asset when applying for that burger flipping job, or to be a sales clerk at Radioshack) are literally going nowhere, but economists are... special. So this is what the Fed has uncovered after years of diligent study, as reported by the WSJ:
A $10,000 increase in student debt per graduate in a U.S. state is associated with an additional 2.9 percentage point rise in the rate of 25-year-olds living with parents, according to an analysis of young Americans with credit reports by the New York Fed.
Young people weighed down by student debt may try to save money by staying home—especially, research suggests, those with relatively comfortable backgrounds. Or, these young adults may be less willing or able to take on additional debt by, say, buying a home. There is a “clear positive correlation between a state’s student debt growth and the rate at which its 25-year-olds live with their parents,” the New York Fed says.
You mean to say it took Federal Reserve economists countless hours of research, each of which funded with thousands of taxpayer dollars, to figure out that having $50,000 or more in debt upon graduation and a minimum wage job (if lucky) to show for that diploma means one will not be purchasing that $500,000 house? Unpossible.
Some other findings:
So-called “parental co-residence rates” have risen across the country over the last decade. This is the breakdown of percentage of young adults living with their parents in 2002-2003:

And in 2012-2013.
Some other "findings": the average Class of 2014 graduate with student-loan debt has around $33,000 to pay back, according to Edvisors. After adjusting for inflation, that is more than double the average load per borrower in 1993.
The New York Fed also says it’s not all about the economy. Stronger growth and improved job prospects help young people move away from their parents, but rising local house prices can force others to move back home. “These two effects partially offset each other,” the New York Fed says. Silicon Valley is a great example: Even though its economy is doing well, high rental and housing costs are keeping kids at home.
Well thank Congress, a broken legal system, the NAR, and the entire US housing industry for making a mockery of US housing, which as explained in yesterday, and all the way back in 2012, has become the new global offshore money-laundering venue, and which foreign oligarchs and tax-evading criminals are rushing hand over fist to park their money, in the process making it unaffordable for anyone but the wealthiest Americans. Perhaps one day Obama will go after this domestic version of the Swiss banking system, where half the owners of New York's ultra-luxury real estate are unknown foreign entities.
For now however, US students will have to make do with dad's basement.
Again: all known fact. But here is the punchline not even we were aware of: in 12 U.S. states, over half of 25-year-olds lived with their parents in 2012-13.
The states: York are: New York, New Jersey, California, Florida, Illinois, Maryland, Delaware, Pennsylvania, Connecticut, Massachusetts, New Hampshire and Washington D.C.
What this means is that quite contrary to seasonally-adjusted expectations of a surge in household formation, young America is getting progressively older, and since it has no house to call its own, and no marriage partner either (collapsing marriage rates are one side-effect of this economic devastation) all America has to look forward to is a demographic collapse comparable to that of Japan, as an entire generation of Millennials grows older, and leaves no replacement in its wake.
The silver lining: Millennials may die alone, without a job, and crushed by debt, but at least they will have owned lots and lots of smartphones.
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Liberal hellhole states leading the way!!
Yep, And most of them drank heavily of the Obama Koolaid.
Watchu mean? It's good for the family nucleus. Keeps families together. Unity, equality, fraternity, sorority, partie.
It takes a village. Right there in my basement. Fuckin' A! Recovery Gang Ho!
So the democrat tick and leech states have the most ticks and leeches?
This is great news for the guys in Hollywood who produce those comedy shows that like to laugh and make jokes about all the losers out there living in their parents basements.
When the banks foreclose on those houses they can make even funnier shows that laugh at the millions of cold hungry and destitute people living on the streets...
Hope and change always seemed really vague term to me.
The Hillary 2016 team has just registered Peace and prosperity...
LOL
Not to be technical - but Washington D.C. is NOT a "State", though it can be argued it is a state of mind!
I've always thought of it as a Cancer.
New Jersey and you great together. The biggest news story that has been ignored is how Jersey is quickly becoming the next detroit. So many jobs and employers have left that liberal corrupt crap hole.
- Closing Casinos
- Fort Monmouth Closed
- BMW says see ya
- Roche labs
- GE Healthcare
The list goes on and on
Mercedes Benz announced last month good by ya'll we goint to Atlanta !
Snark or fact?
Future FEMA camps should knock that statistic closer to 100%
Beware the harlot that arrives riding a beast.
Unbelievably moronic and how many educated people lapped it up? Ludicrous. Meant absolutely nothing.
My father used to say "Shit in one hand and wish(hope) in the other and observe which fills first"
Well, we have a shitskin in one hand and empty HOPEful promises in the other......
My dad says that too. I'm trying to make it famous for years now.
Does your name refer to homosexual acts with Obama too?
No... it's just that cat anatomy means I'm basically all shaft.
LOL,
I apologize for my impertinence
MGTOW
The Blue states pay more in Federal taxes than they receive. The Red states are the parasites. With the exception of Texas, which can pump momey out of the ground, they are all on welfare.
I can play that game too...
Who da fuck enforces petrodollar hegemony on the world so that EBT cards can buy cheap flat screens from Wally World? It's not a handful of blue state trandgenered navy squeals.
Trying elevate one's contributions to Mamon is actually is somewhat FUCKING INSANE, unless you're trying to make a deal with the devil...
But if you really want to go that route, and kiss his ass with that false paradigm... you might want to come up with a more substantial contribution than worthless fiat, since by that standard - the Marriner Eccles building alone is worth more than the entire 50 States.
Smoking dope in mom's basement in your underwear while beating off to online porn isn't exactly "building the family nucleus." Especially when Dad and your Stepmom and younger sibling live two states away.
LMFAO! Great response! Sad but true.
Yeah, by 18 I had a place with roomates and beat off to magazines. Even got laid occasionally. And I thank god my family lived two states away. Pot? It went great with Grain Belt.
Now lets see a chart on how many parents now live with their children due to the fallout from the '08 collapse and the following recession. I know many parents that could not maintain and had to move in with their kids just to make it.
My father in law with Alzheimer's moved in in 1989. Does that count?
Only if you're not cashing his SS check.
He did leave my wife a nice legacy. He wasn't completely off the rocker when he came to live with us.
my attempt at not "Being Brian Williams"
Why not give us a link to the chart you are refering to
I'm not saying there is one, I am saying there needs to be one. I don't think this is just a millenial issue, I think it is much broader than that. Multi family homes are becoming more of a normalcy than it used to be.
I'd say it's probably more cooperative habitation than anything; parents who've lost everything having to work the same minimum wage slavery "jobs" as their kids, both throwing in to make ends meet. Next round will be even more. I'm trying to set myself up to take care of as many people as I love around me who are gonna be absolutely blindsided by the "Great Reset," but I can't help but feel as if I'm fighting a losing battle.
Though, vis a vis the point of the article, to all you crusty old bastards out there, (and I mean that with love) what the fuck would YOU be doing if you were in your early 20s in post-Globalized shithole Amerika? And don't give me this "pick 'yerself up by 'yer bootstraps" bullshit. The bootstraps were all outsourced to China decades ago. Wage slavery, debt slavery, full-on scab, or a combination of the above really is your only choice these days, unless you've got the brains and the balls to throw out the rulebook entirely. I don't necessarily have sympathy for the mind-slaves my generation has become, as ignorance is a choice in the age of the Internet, but I do feel a solemn sadness for their engineered misanthropy in this impossibly rigged game we call modern life.
Well stated.
I was in my 20s the last major recession 82-88, which was worse because the fed didn't help with free money for all.
All my friends got hard, dirty, sweaty blue collar jobs and worked their tails off. They proved themselves reliable to their employers and got promotion after promotion. Now they are senior managers with paid off houses.
So, yes, I am a crusty old bastard who says all these lazy a-holes need to stop whining and get a life. Or don't. Who cares, really? If you remain a bum, you just make the competition that much easier for the rest of us.
Though, vis a vis the point of the article, to all you crusty old bastards out there, (and I mean that with love) what the fuck would YOU be doing if you were in your early 20s in post-Globalized shithole Amerika? And don't give me this "pick 'yerself up by 'yer bootstraps" bullshit. The bootstraps were all outsourced to China decades ago.
Have 10 kids and charge it all to the state. You're fucked either way, at least this way you get some of your parent's taxes back. And might help the eventual outcome.
Certainly globalization of jobs and wages, along with high urban rental rates all contribute, so that must be factored in. However, it's not just that. I began noticing more and more "aimless" young people 10-15 years ago. No drive, no ambition and a strong desire to not grow up. Many are happy to live extensions of their teen years, no responsibilities, low level barista type jobs that keep their cell phones going, that sort of thing.
Your point about the parents having less is true as well, especially in divorced households. Just a combination of many factors.
or is more where housing is expensive? Washington is way more liberal than California, but California has higher housing costs. also wonder if there is relationship between higher rates of colledge loans in those states?
Don't bother banging your head against the liberal versus conservative meme with these guys. Waste of time.
:the liberal versus conservative mem" is part of the Bread And Circuses of today. The other parts are sports, TV, and video games.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
I gave you a thumbs up because I was about to write the same thing. But it is all about survival. Those liberal kids stay at home until they are 30 something and get their feet on the ground, while the conservative kids are busy swimming upstream on their own. Then those liberal kids, now with their feet well grounded go out and perpetuate the same state of affairs, laughing all the way to their Ferraris. There is a method in their madness. Not saying it is right ... just sayin'
Exactly ZERO of these kids will have ferarris. If you have a college degree and don't work for 1-2 years, employers think you are damaged goods and you become TOTALLY UNEMPLOYABLE.
Sitting around playing video games means you are pretty much stuck being underemployed for life. There is always a new crop of grads who look like the better investment to employers. They will leave you behind.
.... progressive liberal democrap stongholds leading the way for the rest of the country and all on the watch and thanks to the despicable, corrupt, disrespectvul, divisive arrogant narcissitic illegal indonesian kenayn alien muslim sociopathic patholgoically liar in chief fudgepacker.... pass the thing another azz burger while he heads out for his celebrity grand imperial golf life style...
This is a negative? They'll try and shame you into thinking this is a bad thing, but fuck them and their economy.
Yeah but only 80% of them have cell phones for those important conference calls.
I've read some of those Pew research studies and I've done work in this area in the past. It's been co-opted in this instance as a negative and it's a cheap chart to dump there in the first place. You've got kids in shitty situations who want to learn and they need the technology to keep up, but for wild turkey/crack/meth they don't have computer at home or internet access and they're using smart phones as study tools.
Not here. Thank God for son inlaws.
Hell Yeah, 'Murica!
FORWARD!
Hey, at least we have capacious basements.
Other failure-to-launchers are stuck on the couch in the living room of the parents' tiny apartment.
I've got a niece and nephew in their mid 20's both college graduates, both in jobs. One corporate the other education. At today's wage scales, even though they are fully employed, their parents buy them their cars, and foot any major costs associated with medical. Without this backstop, neother one could afford an apartment in the city and to get back and forth to work, while still having money for food, clothes and a social life. So, many parents are doing major support for kids, even college grads and employed. God knows how lucky they both were to get real full time employment. But even good jobs, like the corproate headquarters job, pay shit wages. And benefits like medical and pensions are under fire by corporate management and educational administration. Getting employees off compnay health insurance is a major goal of todays employers.
Disgusting isn't it, how employers have actually managed to get families to subsidize their own workers so they don't have to pay proper salaries?
And don't forget the employers like Walmart who also get us taxpayers to subsidize their workers with food stamps, medicaid, etc.
LTER- what are you bitching about Walmart for? You already subsidize people who aren't even citizens healthcare, food stamps, college etc. etc.
Learn to blame the real culprit you one trick pony
I have no problem with a social safety net and every other first world country has universal healthcare*. I do have a problem with an economy that systemically permits one of the wealthiest corporations in the world to underpay their workforce by making me pay for their foodstamps. It is all part of the plan to gut the middle class and make us all wage slaves. Walmart has destroyed more small businesses than can be counted, and is made possible in large part by government subsidies.
*our private healthcare system is a complete disaster for anyone in the bottom 90% or so of the socio-economic ladder (and many above who are unfortunate enough to get sick), yet guys like you will defend it with your last breath.
Wasn't one of the stated goals of obamacare relieving people of being stuck in jobs due to employer provided health insurance?
LTER- You have no problem with issue's that fit the liberal technocrat Agenda......others, you pounce on like a fly fleeting to a fresh, hot pile of shit.
There, fixed it for you.
Your welcome.
My welcome what?
Jack, you are full of crap. Or you forgot what it was like.
People with no experience should expect low wages to start out. You have little to offer, but you are given a chance to prove yourself. If you work hard and gain useful skills, you will either move up or move on to a better job. It has always been this way.
It sounds like you think a college degree should entitle you to a high paying job. Or you lived on your trust fund and never found out what the real world is like.
"Wasn't one of the stated goals of obamacare relieving people of being stuck in jobs due to employer provided health insurance?"
Obamacare is not universal coverage, and was a give-away to the private medical industry, similar to the military industrial complex that has enjoyed similar privileges for decades. Socialism for the rich. Obama is a fraud and anything said in support of Obamacare was a lie.
well there's this....
http://www.wsj.com/articles/SB123413701032661445
and this:
http://dailycaller.com/2014/11/28/gallup-peak-number-of-americans-delayi...
And that lawsuit at the supreme court? That's over subsidies to hospitals right?
Before Obamacare the government was paying for 65% of healthcare already so what does it matter
hammered that nail through the fuken floor Rand,,A+
It's tough out there. Let a complete stranger say that I am glad to hear that they have a start, with able help from the padres. I hope they turn out to be sucessful enough to assist their parents if they encounter tough circumstances.
Parents are enablers, allowing them to live beyond their means. My daughter probably makes less than each and was saving half of her income before she decided to go to law school at night. She is disgusted with young adults her age who make as much and if not more complaining about how they cannot save money. They waste money. I have a son who is a few years younger and makes quite a bit more than his sister, but hasn't saved much in his first 8 months after graduating with a degree in engineering. He pays $250/mo more for rent than his sister, drives a car (she walks, rides a bike, takes the bus or rents a smart car or borrows mine). He also has a line item in his budget called "drinks". He likes happy hour. She has an ancient cell phone and he just got himself an iPhone.
There are those that accumulate and those that don't. My daughter tracks all of her finances in "mint". My oldest is truly struggling even with a college degree and no debt. He is a free spirit and non-conformist. I told all of my children: BA, BS, Be Out. Meaning get your degree and hit the road :) I made them all pay for half of their college costs so they had skin in the game and made good choices. My 4th and youngest has about 18 months to finish up his engineering degree. He will owe us maybe $10k to $12k when he graduates. The only one who had any debt. No banks involved.
It's very tough these days even with a college degree. My cousin has a chemical engineering degree from a great univeristy and 8 years with an O&G company in Houston and just got laid off along with about a dozen other mechanical and chem engineers. So even STEM majors are not immune to Barry's "robust rekovery" either.
Our economy, esp the Middle Class private sector is in very serious trouble as many have written and documented already. It's getting even worse.
Understood and I agree things are tough. I tried to make 2 points 1) is that parents can cripple their children by helping too much and 2) that some can still save and accumulate when making much less than others.
I understand that yer future son-in-law had a problem with the Law...
STEM has been ground zero for unemployment and destroyed careers for at least the past decade in America. As financial speculation has replaced actual economic growth through producton, and the financial overlords have outsourced/offshored/reduced every STEM job possible. Chem and O&G have fared a little bit better than most, but how STEM professionals, the true lifeblood of the economy have been treated, is nothing less than disgusting.
I will tell you this from years of personal experience: living at your parents house at 25 is infinitely better than being homeless at any age(unless one chooses to be homeless as a vow of poverty or some such). From personal experience I can also tell you that every year I see more and more homeless on the streets, and a lot of younger people that go under the radar because they don't go to social programs or answer the census or anything.
Student loan debt jubilee in 5, 4, 3.....
Not without first selling your soul to the govenrment.
And by "selling your soul to the government" I'm guessing it'll be something along the lines of, "join the military for the inevitable WW3 and we'll wipe out your student loans".
How could young adults afford their own place, a car, ACA "insurance" premiums, food, and utilities on $10/hour?
They can't, thus they are at home with Mom and Dad or Grandma and Grandpa - siphoning off the assets of the generations when America actually had production and career employment.
When even top grads of some of the nations finest schools find it hard to even get a response from employers, especially employers hell-bent on hiring foreigners (ie: most Silicon Valley firms), you know there is a very serious problem with the economy. We're now almost 15 years into this mess, and at least in the technology sector, no new net Americans have been hired since the original dot-com boom.
Silicon Valley is a rust belt. People are just noticing now.
Preach it brother!!
FYI...the next stage of the scam is started. Increasingly, US Companies are now outsourcing entire functional area and any large scale development contract to the offshore consulting giants (Wipro, Infosys, Tata, etc) No longer just IT and backend services but stepping into almost any area of the firm. It allows them to avoid the costs and morale issues of hiring full time employees that they will likely can at some point anyway.
So now the only ones offering jobs in the US are increasingly the staffing arms of these firms. Offering a contract rate ( after taking their cut) that only an Indian would love. Don't like it....tough luck...they will just bring someone in on the next H1-B cycle if you don't take it.
And that is what we are becoming folks, lackeys to an ass backward country in our own land....
I guess TX is turning out pussies.
.
I live in TX and see it all around. Pussification is increasing in TX.
multiple family living together may come next, with breadwinner jobs from energy sector laying off. Asians and mexicans are used too it. whites not so much....
Sure they are but not recently. Multigenerational homes (among whites) were quite common in the even well into the late 40s/early 50s.
Sure they are but not recently. Multigenerational homes (among whites) were quite common in the even well into the late 40s/early 50s.
If only America would elect the first President with a vagina then things would certainly get better, I mean look how well our first Affirmative Axshun Presidunce has worked out.....
The pillaging shall continue regardless of the party, species, color, gender, race, religion, sex, origin, and/or creed of the puppet in chief.
I found a group of them the other day at work standing around doing nothing and I rarely talk to them. I went up to them and high fived them all and they were very happy until I told them why I gave them a high five for still living at home. All college graduates and all saddled with student loans debt.
Good one.
I've also noticed that recent grads pay little attention to detail. That attention is lost to i-gadgets and appearing stylish. Whenever I audit their work, I leave myself plenty of extra time in order to shred them fully. My objective is to humiliate them into staying focused, but they don't seem to care if they screw up and don't understand why I appear so mean. If I have to rely on them in my dotage, then I'll probably end up topping myself.
Lets not just blame the idiots at the Federal Gov't for this $850 Billion dollar mess in non collateralized student loans. I'd venture to say 40% or more students were not intellectually prepared to even enter college in the first place. They all took out loans without even considering the impact of paying it back, yet they all had the latest in iPads & iPhones etc. and other luxury goods and clothes. It's the moral fabric that is broken and probably will never be cured.
The academic scammers need to be punished as well. Instead of put on the pension rolls. Hard jail time for college presidents who think it was appropriate to pay millions to sport coaches would be a good start.
It's Sunday, no foot ball (PTL) and allow me to indulge myself.
My total cost for my Baccalaureate was 8000 dollars, I worked around campus for thirty to forty hours a week, Had a full time girlfriend and drank less beer than I paid for. I graduated middle of the road in my class, in a 4 year program that is now a 5 year program. Summers I was a teaching assistant. This was typical operating procedure in a state school in the late 70's I gradiated in 1978 and had a job lined up for the fall, out of country. Out of country offered me a Masters program , paid for, which I declined.
If I had the same way points to hit today, I honestly do not know if I could accomplish them successfully.
Wrong. The Federal Govt. takeover of the market for higher education loans is the primary reason for the mess 20 somethings are in now, not their moral turpitude. Turn off the gummint spigot of many billions of loans per year and let the free market work, and voila, there will be no student debt problem.
You can't beat home cooking from your mom and getting your own bedroom back.
Thanks for giving DC statehood. Its been a long time coming.
How come the highest rates are in the Blue (Democrat) states?
The family seed corn is dwindling.
I up and left home at age 15, and it felt perfectly normal. But then I had a part-time job at a restaurant and could expand hours as I wished, and I was welcome to eat on the job. Nobody had a problem renting me a room and my bicycle colud get me anyplace I wanted (even in winter! Or if it was snowing it was easy to hitch-kike). Today you'd get fired for eating a piece of pepperoni on a pizza, if you were lucky enough to find a job. Then there were no "protective services" (1965) around and I had been working at age 14 during the summers earning good money (piecework), I felt loaded. I can still remember cashing my first $100 bill at KFT, *lol* I felt like a big-shot. Today a kid would be picked up and put who knows where and I'm not sure kids can even work picking tobacco anymore.
My how things change, but the idea of living with my parents at age 25 is a really unreal concept.
Man, the sixties were the best of times. I really feel badly for the youth of today, what a hornet's nest we've built for them.
Addendum: Someone commented privately to me--"well, you're in your sixties, and you don't have a student loan to pay." Well, I can understand that sentiment but in fact I still owe ~28,000 on my student loan since I went back to college in 2001 (again). I do have something that many "youngsters" do not, and that's a work ethic, though where I work I do see many in their 30's who also do, but I don't see that often in anyone younger, except immigrants. How odd.
It's a miracle all of them aren't living with their parents.
After spending all their money on necessities such as beer, booze, pot, cigarettes, student loans, drugs, tattoos, tight hipster jeans and cell phones there's no money left over for dumb stuff like food and rent.
Yep. 99% of it is self inflicted, and the poor work ethic guarantees they will still be whining about in 40 years later.
I paid my own way thru college, first at 20hrs a week stocking shelves, then swapping semesters as a co-op. I graduated with a 3.2 in computer science and about $800 debt. That was a lot of money to me back then. I had no real college life as I was living at home all those years. I took as many hours as I could in and still managed to graduate only 5 years from start circa 1989. I have never taken on much debt beyond a mortgage, with the first being a primary residence turned into rental that I still own.
With the above charts, the communist chosenite owned federal reserve central bank, like the dancing Israelis, are simply "documenting their event."
I found a way to get my kid out. I gave him a job.
You know what would really indicate that the shit has hit the fan? If the US courts issue orders to all parents that they are now financially responsible for their kids until they turn 40. They'll be issuing child support orders.
I am so fucking glad I decided not to get married nor have kids.
Fuck paying for all this shit.
Wondering if it may get so crazy that one day I get a knock on the door by the government and get told that "Although you have no dependants, we're assigning you a family headed by a single mother!"
U R Ca non FoD er.
Nope, won't be signing up for no draft, nor a war. I have no debt. Would like to see them try.
They won't do that, they will just screw single professionals with high taxes, like they have been doing for many years now. Married people pay a different rate? What the fuck is that???
Earned income child tax credit?? again, wtf.....
Might not be a bad idea.....my sister who is now 65 lived at home with Mommy and Daddy her entire adult life.....and managed to transfer all of their assets into her name by the time of their death. bingo.
Yup, I know a couple of those also. To the loss of the siblings who left.
yep....that would be my twin sister and I. A cool 2.5 Million. Difficult to muster up enough legal fees to fight it for Undue Influence. Guess God will sort it out at The Judgement.
Well if she took care of them and it would have required nursing home care that would have easy run you $25-30k annually per parent. If they had a serious illness (say a stroke that left them incapable of even doing basic ADLs such as feeding themselves or full blown dimentia), that would cost at least $50-55k annually.
Looked at full service nursing home costs lately?
My mother in law cost $80,000 per year for her long term Alzheimer's care at a decent facility.
2 years.
No wonder that we boomers worry where that coin will come from.
Father in law we kept at home until a couple of months at the end. $60,000 to put him to 'sleep'.
There was an article about 'end of life' being a better quality and cheaper on a cruise ship than at a nursing home , that caught my attention a while back and I have since lost where I saw it.
You constantly hear talk about 'STEM' on here but if you don't have good soft skills with people, an ability to speak in front of a room of people effectively and deliever you presentation/speech, and listen carefully you have no shot in a modern corp office. You also have to be prepared to play the game and know how to position yourself and build a support system for you. Other skills including speaking at least one other language (Spanish or Mandarin Chinese especialy), knowing Excel/Powerpoint incredibly well, and be able to creatively problem solve in some shitty and time-sensitive circumstances.
The employers still ask for the degrees though. And the vetting process is getting tighter and tighter. You'll soon need to be very 'conformed' to get a job. Especially with the erosion of privacy and freedom that is on-going.
An aging population is turning out to be a nightmare. Who do you think is most willing to give up freedom for security/safety? Old people.
You need to define old there, QD. 30 ish?
No joke. A coworker in his early 30's made a joke the other day about people putting GPAs on their resumes. After asking around the office we found out that people graduating before the mid 2000's didnt do it unless you had a great GPA or some kind of extenuating circumstances.
It is an incredibly foreign concept to the younger folks because its absolutely required these days. If you dont have a 3.0 on your resume is immediately thrown out. Really need a 3.3 - 3.5+ to not go straight in the trash for many employers.
I've seen quite a few employers, especially on the 'consulting' side of the industry, actually discard resumes where the GPA was too high. As hiring competent people might not generate enough "billable hours" if things are done right the first time.
Piffle. Not really. STEM jobs are all degraded now, it's only by comparison to all the manufacturing jobs that have gone offshore, and middle management and sales jobs that have been eliminated by automation, that it makes sense. Soft skills are actively discouraged among hardcore STEM'rs, and are barely rewarded even where utilized.
Now, *management* skills are another matter, if by "skills" you mean an MBA and a talent for igoring and abusing your inferiors. That's all that US corporate "management" means anymore, as if it was ever all that different, I know.
The whole application selection process looks more like a lottery, not an actual evaluation of skill/merit. Even if a person does possess the 'soft skills', good luck getting an employer to actually look at one's resume.
They took care of my sister 65 years - no morttgage, no kids, free food, free transportation Up until about 80....my mom was doing all her laundry and house cleaning. During the last 10 of their life, I spent 30 hours or more a week helping care for them. The royalty from their oilwells was far in excess than any expenses......they never went to care facility because it would mean my sisiter surrendering control of their finances. It was a classic case of manipulation and control over feeble elderly who felt vulnerable.
I'd like to see the 35 and 45 year olds as well.
Oh, just a small correction -- Washington, D.C. is not a state unless you use Obama's numbers.
None of it will be paid back.
Nothing like $100K in debt at 23 and a degree in gender studies.
Hope & Change!!!! (Dumb Asses)
My oldest is 13 and she has gone full rebel on me. I don't care how long she lives with me at this point. Just hope she pulls out of it! Her school is costing me a fortune!
she hawt?
Hang in there Hans!
"My oldest is 13 and she has gone full rebel on me. .."
Been there, done that. My daughter did same at 13 as well.
There were some tough times. Put up with her attitude up to a point' but cracked down when she took it too far. She was angry with me from 13-21.
Graduated college. Married college sweetheart.' Wrote me a long letter after getting married ..."Dad, I forgive you...."
Forgive me? Forgive me for what? I was being your parent.
Now at 23 she calls me daddy. We get along great.
Your daughter will get over it. Don't let her ru(i)n your life.
In 1999 the average home in the town in MA that I currently live in cost $180k. The average is now $320k. Wages are lower, taxes are higher, and everything else is more expensive.
Young people can't afford a home. So that is why they are still living with their parents.
Cabin on Walden Pond = Sweat equity
Sure, in California probably a third of 25 year olds live with their spouses, and children, and cousins, and parents, and six other guys they haven't even got the names of yet, and none of them speak English. Kind of biases the numbers.
As one of the lucky that this article is describing; late-twenties, ivy-league degree, debt-loaded and living with family - I can say that it's not just debt and cost of living.
I got a few friends in the same lot as me - we're all waiting for this QE market to deflate and keeping what little powder we have dry. "Why aren't these kids borrowing and buying with prices at all-time highs?"
So if they wanna keep propping up the real estate market artificially, and rents keep rising, so be it. We'll wait it out, starve the beast, until they're giving the houses away just so someone mows the lawn.
Parental co-residence...do you hear that shit brother George?
Oh, how I miss a day so not long ago when the worst we had to fear was a beeper to interrupt people from actually communicating face to face.
I can't even fuckin play a game of pool without a young retard texting on the fuckin phone.
We'll repay the favor in 20 years and take care of them, instead of just buying a robot to do that.
Back to good ol days of multigenerational housing, before the whole "everybody has to have their own house and make the developers and bankers rich."
There all all kinds of kids. We dropped my oldest off at her dorm her freshman year and she never came back but for the occasional visit. My next son spent four years in college and four in the Air Force then a year and a half of law school then he moved back into his old room while studying for the bar. My youngest daughter moved out after high school then after she got married they moved in with my wife and me for five years until they saved up enough to buy their own house.
My brother's 28 year daughter was reluctant to leave home and her mother was clinging on to her baby but on the 14th she is getting married. Her fiancee is 31 and has been helping take care of his sickly parents and saving money. He put one third down on a $184,000 house. As long as a child is helping his parents, working and saving money having them around isn't to bad.
I my case being married twice between my first child being born and my daughter moving out for the first time in 43 years I don't have any children living with me. I'm finally alone with my wife.
This is not half the news. The other half is that so many young people (and NOT so young people) are rooming with others only because they can't afford a place of their own.
In NJ and especially in NYC it is not uncommon for a 2 bedroom flat to have at least 4-5 people living together. Many of these people would otherwise be forced to live in slums or be homeless. Sad-to-say there are many in their 30s, 40s and above living like this as well. Many sleep 2-3 to a bedroom and the living room is also cordoned off as a third bedroom so in a normal 2 bedroom place it is not uncommon for there to be as many at 6 people living.
NO. I am NOT talking about only Indians and Chinese living like that but all Americanos including the gora wallas (white folk) as well. Remember the TV series FRIENDS? Well, it is like that only worse and not as clean.
Yes, deekras (dears), this is the state of the land of the free and the brave today. It is NOT a pretty picture and I doubt that the reality will ever make the mainstream USA press.
Yes, in the USA it makes little sense for thrifty people to live alone in expensive housing...
I wonder why kids feel they must leave their parents homes? Personally we had some problems in my home and it seemed safer to leave.
I had to look for Gora Wallas... Not much luck. Seems to come fro India and indicate some kind of purity.
http://parsikhabar.net/issues/why-parsi-girls-wont-pick-parsi-boys-for-m...
Richie Havens, Freedom, (Woodstock)
https://www.youtube.com/watch?v=fA51wyl-9IE
There is a totally new ethos that has swept the land. Back in the sixties we had 200 million people; now, it is 300 million+ competing for resources. This may be the root-cause of our predicament. Short of some new catalyst of change (this time in the right direction), our county's situation will only worsen. And with worsening political leadership, it must. Obama is the anti-president. Under his leaderlessness, we have become a nation adrift with no port in sight. Keep your life-jacket at hand; ahead, rougher seas are likely.
This situation is not caused by 300 M competing for resources, news flash, the entire worlds population could fit into Texas. You're falling for the mainstream agitprop being used to justify corralling people back to urban centers and further agenda 21.